Toyota, Daihatsu to Boost Locally Made Car Exports
Jakarta. Toyota Motor Manufacturing Indonesia and Astra Daihatsu Motor, local units of the Japanese car manufacturers, plan to boost exports of fully assembled cars by 10 percent this year, to counter rising costs brought on by a weakening rupiah.
TMMI plans to export 107,000 cars this year from 97,300 vehicles in 2013, while ADM has set an export target of 176,000 cars from 160,000 cars a year earlier.
TMMI sources 80 percent of its components from domestic suppliers that import raw materials from abroad, making the car manufacturer vulnerable to the weakening rupiah against the US dollar, said TMMI president director Andang Tjahjono.
Indonesia’s currency has dropped 5.2 percent so far this year to trade at Rp 13,047 against the US greenback on Tuesday.
“Indonesia must expand its aluminium, resin, and steel industry to support its auto manufacturers,” Andang said.
Investor Daily
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